Member Info for Tigar

Seems like someone looking to take over Enquest and Barclay's is Employed to do a job for them?

Suppose they come up with a number $1bn in tax over next three years? shock horror that means we are only going to cleat $3bn from NS if we do nothing to offset some of it. The brokers have agenda's and bigger fag packets than me.

Hi Stumpy
BP have three arms one huge one is overseas production, the other huge one is refining and retail oil, the little one is UK production. I suppose the market has realised the little one is just that.

And you also have to note the UK Government never removed the 10% additional corporation Tax even when oil was below the cost of getting it out of the ground so talk of windfall tax is rubbish the new norm is 65% till NS closes, and the worst bit is decommissioning is not claimable against 25%
Trust takes years to build and is lost in a few words. I see that Interest is not deductible before Tax so the losses from oil that lead to the debt are your problem as soon as there is profit again we want it before you pay the interest on the debts you have built up. I thought Tax had to be fair?
We will win but only because of past losses 3bn of them unless we cant trust them to honour that.

When the dust settles the value of EP in a NS project has gone up it can be bought with immediate Tax deductible money.

If the aim is to raise money and produce more UK oil & Gas then Sunik better get the fine details sorted ASP as it seems like much confusion caused and that is likely to delay any new projects, no one can plan against this backdrop!
Hit the hedging companies and oil distribution companies with a windfall Tax the producer's are hardly in the first year of profits after huge losses it's a bit like putting a Tax on mortgage repayments because house price's have gone up.

The clarity we need from the New Tax on oil, firstly is the Investments in renewable's we are going to make deductible from that 25% Tax? secondly is the 91% Tax allowance for new investment all deductible from that 25% Tax or is some of it just added too our other Tax credit recoverable from corporation Tax. Hopefully AB is working on getting that clarity if it is new investment against New Tax it I believe it could achieve good things.

Enquest could invest overseas but for us the tax on NS is 25% until we have used up the 3bn in tax credits so it is a no brainer to invest at least any Tax liability if that new outlay is recoverable from the new tax. It read as though 91% was so if the price of oil falls by the time it is up and running the new production will have been paid for by the high oil price today if oil price stays high and the 25% tax stays in place we will still only pay that till we have used up historic credit, it all sounds like a deal set up to increase our production ASP. Lets get drilling!

mrc that is one of the best points I have seen all day, a NS deal is a lot more likely we still have tax credits for corporation tax and EP to offer in any new deal and others will be more likely to want out. And hedges are a requirement for RBL for outstanding balance but do we have any outstanding Debt left on the RBL all the FCF and the new RB money is somewhere.

The debt grip? I suppose after the $70m raise of new money we must be at the point of having repaid all of the RBL and are now accumulating cash as next payment of debt being sept 2023 unless new terms agreed in mean time. Debt is not a problem!

Too help struggling people, perhaps the Government should run Energy companies Hedges Those are the companies that are making huge profits at the moment if the Gov underwrite energy companies they could have protected consumers next winter from further rises!

Why have we had update on a Monday? we all know they like Thursdays for important updates, are they leaving Thursday clear for a reason!

As you know heat pumps use 1kw to extract 3 kw of heat and then you pump your 50 degree water around to heat your house the coal mines have water in them already heated to 60~70 degrees and it only needs pumping so they are a brilliant way forward in some area's
And the idea's of using old oil fields to power the production of more oil or even produce electricity to export to shore needs looking into. I don't care were Enquest make the money from! ( water boils at 100c and powers all generator stations even Nuclear, but many other fluids boil at a lot lower Temp and could power turbines with 60 degree water we just haven't invented them yet)

Sell HZM then it's your call, though I suspect you are waiting to buy! Posts on here will make no difference to the price most people have some and will not be selling but will buy on dips as this is one for the future! Not for widows & orphans as they say.

Perhaps it was his Job to book AGM and was otherwise occupied, no free share's for him! expect to see a top woman recruited ASP

If you wish to help people struggling with the price of oil/gas you need to increase supply or cut the use of it, you could ration its supply? but giving people extra money to buy it only puts the price even higher the opposition parties are just looking for popularity they know it will not solve the issue.

As a compromise why not Tax the hedging companies at the moment it is them that are making huge profits by luck!

romaron
Are you a Scorpio by any chance?

Hi Z.F.G.
That changes my thinking, I thought it was a restriction in the Bond so I now see no reason to repay ENQ1 the 2023 7% Bond thanks for asking a sensible question and glad ENQ gave a straightforward reply.

Hi londoner7
I think we on same page this year Sept, I agree RBL has defined reducing limit, but resets to $600m on Bond refinance. With the additional $70m from RB we should be in strong position to negotiate new HYN as low as we are looking for total Bonds $500m.
I personally feel the 2023 RB will be eliminated at that time we don't need the complicated PIK arrangements anymore with covenant's and HYN to cover their repayment should be no problem AIMHO
All academic as you previously said.